SmartBrief
Confirm favorite deletion?
Civil Procedure Keyed to Field
In re Boise Cascade Securities Litigation
Citation:
420 F. Supp. 99 (W.D. Wash. 1976)Facts
In November 1969, Boise Cascade Corporation acquired West Tacoma Newsprint Co., with shareholders receiving Boise stock valued at approximately $75 per share. In 1971-1972, Boise was forced to write down assets by approximately $200 million for various reasons, causing the stock price to plummet to approximately $12 per share. Former Newsprint shareholders and others filed multiple civil actions alleging violations of federal and state securities laws based on alleged misrepresentations and omissions in Boise’s financial statements. The complaints alleged numerous complex accounting improprieties including: improper tax accounting creating $5 million in undisclosed liabilities; failure to disclose $20 million in performance bond guarantees for Burnett-Boise subsidiaries (ultimately resulting in $40 million losses); failure to consolidate Burnett-Boise accounts despite actual control; improper accounting for recreational land sales including inadequate bad debt reserves, failure to establish discount reserves, improper revenue recognition on minimal down payments, unrealistic cost estimates, improper allocation of land costs, and artificial inflation of repossessed land values; failure to disclose fraudulent land sales practices that exposed Boise to substantial civil liability; and concealment of quarterly adjustments through merger pooling. The cases were consolidated for pretrial proceedings, with over 50,000 lawyer hours expended and over 900,000 documents produced. Trial was estimated to require four to six months.
Only StudyBuddy Pro offers the complete Case Brief Anatomy*
Access the most important case brief elements for optimal case understanding.
*Case Brief Anatomy includes: Brief Prologue, Complete Case Brief, Brief Epilogue
- The Brief Prologue provides necessary case brief introductory information and includes:
Topic:
Identifies the topic of law and where this case fits within your course outline.Parties:
Identifies the cast of characters involved in the case.Procedural Posture & History:
Shares the case history with how lower courts have ruled on the matter.Case Key Terms, Acts, Doctrines, etc.:
A case specific Legal Term Dictionary.Case Doctrines, Acts, Statutes, Amendments and Treatises:
Identifies and Defines Legal Authority used in this case.
- The Case Brief is the complete case summarized and authored in the traditional Law School I.R.A.C. format. The Pro case brief includes:
Brief Facts:
A Synopsis of the Facts of the case.Rule of Law:
Identifies the Legal Principle the Court used in deciding the case.Facts:
What are the factual circumstances that gave rise to the civil or criminal case? What is the relationship of the Parties that are involved in the case.Issue(s):
Lists the Questions of Law that are raised by the Facts of the case.Holding:
Shares the Court's answer to the legal questions raised in the issue.Concurring / Dissenting Opinions:
Includes valuable concurring or dissenting opinions and their key points.Reasoning and Analysis:
Identifies the chain of argument(s) which led the judges to rule as they did.
- The Brief Prologue closes the case brief with important forward-looking discussion and includes:
Policy:
Identifies the Policy if any that has been established by the case.Court Direction:
Shares where the Court went from here for this case.